Consumers Spend $11 Billion Online Over Thanksgiving Weekend

Conversion rates, defined by HookLogic as product detail page views resulting in sales, were highest from 9pm – 10pm ET on Cyber Monday, making that hour – the “Gifting Hour” – the biggest hour in online shopping history.

The latest evidence? More people shopped online over the Thanksgiving weekend than in stores, according to the National Retail Federation, the industry’s main trade group. Cyber Monday has stretched into Cyber-Week, and shoppers are not even waiting for Black Friday. Mobile sales accounted for 27.6 percent of all online sales, an increase of 25.7 percent over previous year, IBM found. That said, both IBM and Adobe agreed that mobile shoppers were using their smartphones and tablets to make purchases more often than on their laptops and desktops.

Online sales continued a double-digit climb on Cyber Monday, accounting for $3.07 billion in purchases on what’s typically the busiest Internet shopping day.

As stores and companies prepare promos begin the holiday consumer craze early, the next Cyber Monday could be affected as consumers would then have little to spend when the annual online sale event occurs after the blockbuster deals during Black Friday and before Thanksgiving.

Mobile apps also played a bigger role, such as the expansion of Target’s partnership with the app Curbside, which allows customers to place an order and pick it up at a Target store without leaving their auto. The first 18 days in December are expected to generate $1 billion in sales a day. Star Wars toys were among the items most frequently out of stock, Adobe said in a report sent to Reuters on Tuesday.

According to MasterCard, the four-day period saw specialty apparel retailers sales grow as colder weather hiked up the demand for winter apparels. The research firm also said that sales of Amazon.com, Inc. He still expects holiday season sales to increase 2.5% from a year ago.

It’s possible we’ve passed Peak Black Friday. “You can’t read into just one weekend”. Thanksgiving online sales jumped a quarter this year, marking it as the fastest-growing online shopping day.

Shopper checks out Cyber Monday deals. “And this continued shift toward consumers shopping with their mobile devices has really cut down on store traffic”.